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Financial Crisis Shock Waves Reach Municipalities - MSNBCIt's not just on Wall Street where dubious financial decisions are creating casualties. Municipalities, many of which made enormous financial promises when the economy was strong, are now confronting heavy fiscal burdens. When the last major bank ...
Alabama County Sued by Bond Insurers Amid Stalled Debt Talks - BloombergSept. 17 (Bloomberg) -- Jefferson County, Alabama, was sued by bond insurers Syncora Guarantee Inc. and Financial Guaranty Insurance Co., seeking to strip local officials of control over the sewer system that has pushed the county toward bankruptcy ...
Jefferson's Other Family - SlateSeventy-five years ago this week, on July 2, 1932, Franklin D. Roosevelt accepted the Democratic nomination for president and pledged "a new deal for the American people." He promised public works, agricultural price supports, new mortgage markets ...
COMMODITIES: Gold Surges on Lure of Safe Haven - Washington PostThe price of gold soared more than 8 percent yesterday, the biggest one-day jump in at least eight years, as investors looked for a safe place to park their money during the spreading financial crisis. Investors are turning to gold and silver to help ...
Experts predict deal on Alabama county's debt - BusinessWeekWall Street creditors will probably "take a hit" and reach a settlement with Jefferson County in Alabama to avoid a prolonged bankruptcy proceeding that would leave them at the mercy of a court, a panel of financial experts predicted. The speakers ...
Bill Clinton - Chicago TribuneWilliam Jefferson "Bill" Clinton is 42nd President of the United States. He served from 1993 to 2001 and is the husband of U.S. Senator (D-N.Y.) and 2008 presidential candidate Hillary Rodham Clinton. Show more » William Jefferson "Bill" Clinton is ...
Neo-Nazis seek permit for march in Jefferson City - Jefferson City News Tribune OnlinePolice department officials confirm they are looking at the request and hope to have a response ready by the end of the month on whether they'll issue a permit. The group wants to march on Nov. 8. City Attorney Nathan Nickolaus said the city's law ...
HSBC Holdings Plc - Baltimore SunA Port Jefferson Station bank was robbed yesterday by a man who handed a teller a note demanding cash and threatening violence, police said. The teller at the HSBC Bank branch at 574 Jefferson Shopping Plaza, Port Jefferson Station, complied with the ...
West Virginia News - Herald-MailCHARLES TOWN, W.Va. — One look at the statistics from Jefferson County Community Ministries is all it takes to see how difficult the struggling economy has been on some people. The downtown Charles Town-based organization was set up 25 years ago to ...
JPMorgan, Facing Federal Probe, Exits Municipal Swaps (Update3) - BloombergSept. 4 (Bloomberg) -- JPMorgan Chase & Co. will stop selling interest-rate swaps to government borrowers in the $2.6 trillion U.S. municipal bond market roiled by an antitrust probe and the near bankruptcy of Alabama's most-populous county. At least ...

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Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
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